A Modest Proposal? Treasury’s Report on Bank Regulation
June 13, 2017
On June 12, 2017, the Treasury Department released the first of several reports in response to President Trump’s Executive Order 13772, which called on the Treasury Department to report on laws, regulations and other government policies that are inconsistent with enumerated core principles for regulating the U.S. financial system.
The Report recommends a significant number of changes, reevaluations and studies of the financial regulatory regime introduced primarily by the Dodd Frank Act in 2010—some conceptual, some very specific. The Report takes a less aggressive approach than the recently proposed Financial CHOICE Act of 2017 and may be a significant step towards implementable financial regulatory reform.